Railway Wiring Harness Market

Global Railway Wiring Harness Market (2023 to 2028)

The global railway wiring harness market is worth USD 1.77 billion in 2023 and is anticipated to reach a valuation of USD 2.22 billion by 2028 It is predicted to register a CAGR of 4.60% during the forecast period from 2023 to 2028. 

The main growth factor is that more and more new railways are growing in the market. Projects and growing demand for applications and advanced features in one go.

Rapid urbanization and sustained economic growth around the world are leading to increased investment in the rail and transit sectors to improve the quality of public transport. Governments of various Asia-Pacific countries, such as China, Singapore, Malaysia, and Thailand, are implementing new rail projects and improving and expanding their existing rail infrastructure to improve their general rail links. The introduction of high-speed rail transport (HSR) is increasing significantly as the number of passengers in HSR-operated countries increases and modes of transport are improved.

Increasing urbanization promotes the development of smart cities. Governments from different regions have begun to launch smart city projects to provide better infrastructure and services and accelerate operational activities in public and transport services (including railways and roads). For example, in 2016, the Indian government proposed 109 smart city projects in India's main cities. It is expected that the growing number of Smart City projects around the world will stimulate the growth of rolling stock and supporting infrastructure. The reason for this is that people in several countries prefer alternative means of transport, such as the railway prefer, instead of traveling in heavy traffic with passenger vehicles.

Developed countries have launched plans to develop driverless train networks, which are expected to boost growth in the transport sector. Countries like China, India, South Korea, the United States, the United Kingdom, Mexico, Brazil, and South Africa want to revolutionize their rail networks with the introduction of trains without drivers. Rail manufacturers are expanding geographically by investing in infrastructure to produce trains without drivers. In developed regions, such as North America and Europe, railway safety and protection are improved by upgrading trains and replacing existing systems with advanced systems. This adaptation and the use of new trains without drivers require a lot of wiring, which creates a great opportunity for the growth of the market for railway cable harnesses. In the European region, for example, a new initiative called the Fourth Railway Package was launched to create a unique European railway area with structural and technical reforms. 

REPORT COVERAGE:

This research report on the global railway wiring harness market has been segmented and sub-segmented based on application, cable type, component, material, voltage, train type, and region.

Global Railway Wiring Harness Market - By Application:

• HVAC
• Lighting Harness
• Brake Harness
• Traction System Harness
• Engine Harness
• Infotainment
• Others

Global Railway Wiring Harness Market - By Cable Type:

• Power Cable
• Transmission Cable
• Jumper Cable
• Others

Global Railway Wiring Harness Market - By Component:

• Wires
• Connectors
• Terminals
• Others

Global Railway Wiring Harness Market - By Material:

• Copper
• Aluminum
• Others

Global Railway Wiring Harness Market - By Voltage:

• Low Voltage
• Medium Voltage
• High Voltage

Global Railway Wiring Harness Market - By Train Type:

• Metro/Monorail
• Light Rail
• High-speed Rail/Bullet Train

Global Railway Wiring Harness Market – By Region:

• North America 
• Europe 
• Asia Pacific 
• Latin America 
• Middle East and Africa 

KEY MARKET PLAYERS:

The ecosystem of the railway wiring harness market consists of manufacturers such as Furukawa (Japan), Leoni (Germany), Hitachi (Japan), Nexans (France) and Prysmian (Italy).

RECENT HAPPENINGS IN THE MARKET:

• In May 2018, Furukawa set up a new fiber optic cable manufacturing facility in Morocco to strengthen its commercial activities in the EMEA market (Europe, the Middle East, and Africa). The plant will serve as the production center for Furukawa Electric and is the first such center in Africa.
• In March 2017, Motherson Sumi Systems Ltd (MSSL) acquired PKC Group Plc, the global automotive component based in Finland, for approximately 571 million euros. With this step, the company will significantly expand its presence in the market segments of American and European commercial and rail vehicles.
• In January 2018, Hitachi Cable, a division of Hitachi Ltd., unveiled its Hitachi Cable America (HCA) high-speed data connectivity solutions 56G and 112G PAM4 at DesignCon 2018 in Santa Clara, California.
• In December 2017, Furukawa Electric LatAm, a subsidiary of Furukawa Electric Group, built a new production plant in Mexico to focus on manufacturing solutions for the communications market. The first phase of operations will focus on the production of fiber optic access cables and strands.